Wednesday, March 25, 2020

Why Offer COVID Relief Money to Big Business?


“Not one dime of the relief funds should go to big business.”  I saw something on Twitter yesterday to this effect.  Most people relate to the sentiment.  Our primary concern should be the well-being of ordinary people, most of whom are workers and not owners of big businesses.

Why then do economists and policy makers include bailouts and loans in their prescriptions for addressing the economic fallout of the coronavirus pandemic?   Perhaps economists and policy makers are just heartless bastards that have sold out to the plutocracy.  Some are and have, but the vast majority are not and have not.  There are actaully sound reasons why relief to business helps workers.